Sell-Side M&A Advisors: How to Choose One, How Much They Cost, and The Importance of the “Fine Print”

My Guest John Carvalho is the President of Stone Oak Capital, an M&A advisory firm that focuses exclusively on middle market businesses, with a specific focus on transactions between $10 and $100 million. Among other things, Stone Oak offers acquisition, divestitures, corporate finance and valuations services for its clients. John is also the Founder ofContinue reading “Sell-Side M&A Advisors: How to Choose One, How Much They Cost, and The Importance of the “Fine Print””

Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business

Listen to This Blog Post For many business owners (particularly those actively looking to sell their companies), few things are as exciting as receiving a Letter of Intent (“LOI”) from a prospective purchaser. Beyond the sense of personal validation stemming from the fact that a sophisticated counterparty sees an asset worth paying for, many businessContinue reading “Strategic Considerations When Evaluating a Letter of Intent to Sell Your Business”

Having Hard Conversations (Live Panel Discussion from 2022 MIT Sloan Search Fund Summit)

In this week’s episode, we discuss the importance of having difficult conversations, something that CEOs find themselves doing on a near-daily basis. We discuss three primary types of difficult conversations, including: Hard conversations around internal company dynamics (eg: terminations); Hard conversations about dynamics external to the company (eg: politics and global affairs); Difficult conversations thatContinue reading “Having Hard Conversations (Live Panel Discussion from 2022 MIT Sloan Search Fund Summit)”

Quality of Earnings Analysis: What You Need to Know Before Buying a Business

My Guest My guest today is Chris Hutchinson, a Partner in Ernst & Young’s Transaction Advisory Services Group. Chris has over 15 years of experience advising clients on M&A, financings, valuation projects, and due diligence mandates, with a specific focus on private lower-middle-market businesses. Chris and his team have completed an untold number of QualityContinue reading “Quality of Earnings Analysis: What You Need to Know Before Buying a Business”

Lessons Learned in Capitalizing an Acquisition

Listen to This Blog Post Among the myriad variables that must be carefully considered when acquiring a business is the question of how the acquisition is going to be financed. My intent in the material that follows is not to cover the countless options available to acquirors stemming from this question (that wouldn’t be possibleContinue reading “Lessons Learned in Capitalizing an Acquisition”

The Working Capital Adjustment

Listen to This Blog Post In a previous blog post, Busting the Biggest Myth About Selling Your Business, we reviewed a number of fundamental facts related to the sale of any company that warrant being repeated here: The single biggest myth about selling a company is that the seller bears no further risk after theContinue reading “The Working Capital Adjustment”

What M&A Lawyers Want CEOs to Know About Selling Their Companies

My Guest Mario Nigro is one of Canada’s preeminent M&A lawyers, and currently serves as a Partner in the Mergers & Acquisitions and Private Equity & Venture Capital Groups at Stikeman Elliot based out of Toronto. His practice focuses on mergers and acquisitions, financings, complex corporate reorganizations, and general business law. Mario has extensive experienceContinue reading “What M&A Lawyers Want CEOs to Know About Selling Their Companies”

Busting the Biggest Myth About Selling Your Business

Listen to This Blog Post The entrepreneurial journey is full of innumerable risks: Your largest customers can leave at any time, and for any reason. The market may change faster than your company’s ability to adapt. Your largest supplier may decide to cut you out of the value chain and simply build your product themselves.Continue reading “Busting the Biggest Myth About Selling Your Business”

The Private Equity Perspective on Acquiring, Operating and Selling Software Companies

My Guest Jordan Bettman is a Partner and Co-founder of Radian Capital, a New York-based Private Equity firm focused on B2B software and technology-enabled services businesses. Radian has ~$500 million of assets under management, and is now investing out of their second fund of ~$315 million. Prior to co-founding Radian, Jordan was a Partner atContinue reading “The Private Equity Perspective on Acquiring, Operating and Selling Software Companies”

Considerations in Selecting Your M&A Advisor

Listen to This Blog Post: Many entrepreneurs cite the exit process as being one of the most difficult, time consuming, and emotionally trying experiences of their lives. The reality of selling a company stands in stark contrast to the manner in which it’s often portrayed in the media, where the entrepreneur allows the accountants andContinue reading “Considerations in Selecting Your M&A Advisor”